Harshana Jayaweera
About Harshana Jayaweera
Harshana Sidath Jayaweera, age 45, serves as Chief Financial Officer (Principal Financial Officer) of Alchemy Investments Acquisition Corp 1 (ALCY) since October 2022; he is not listed as a director in ALCY’s officer/director roster and thus is not an “independent director” of ALCY. He holds an MBA (with Merit) from the University of Leicester, UK, and has over two decades of banking and investment experience across the Middle East and Sri Lanka, including roles at BNP Paribas (Abu Dhabi), Emirates NBD, Nations Trust Bank, and Sampath Bank; he also serves as Managing Director of Aartha Capital Advisory & Investments Limited and as an Independent Director of GRIP (DIFC) Limited (Dubai) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| ALCY | Chief Financial Officer (Principal Financial Officer) | Since Oct 2022; signed 10-K April 3, 2025 | Finance leadership; SPAC trust/redeem mechanics oversight |
| Aartha Capital Advisory & Investments Limited | Managing Director | Since Jun 2017 | Boutique advisory; cross-border investment advisory |
| GRIP (DIFC) Limited (Dubai) | Independent Director | Since Oct 2019 | Regulated investment bank board oversight |
| BNP Paribas (Abu Dhabi) | Banking/Investment portfolio analyst | Jun 2006–May 2008 | Managed largest lending/investment portfolio of branch |
| Emirates NBD | Analytical and client-facing role | Nov 2004–Jun 2006 | Corporate banking coverage |
| Nations Trust Bank PLC | Roles in corporate banking/operations/reporting | Jan 2003–Jul 2004 | Bank operations & reporting |
| Sampath Bank PLC | Roles incl. branch banking | Nov 1998–Jan 2003 | Branch/corporate banking |
External Roles
| Organization | Sector | Role | Notes |
|---|---|---|---|
| Aartha Capital Advisory & Investments Limited | Advisory/Consulting | Managing Director | International clientele; investment advisory |
| GRIP (DIFC) Limited | Investment Bank (Dubai) | Independent Director | Regulated DIFC entity board member |
Board Governance
- Status: Not a director of ALCY per SEC filings; therefore no committee assignments, chair roles, independence determinations, or director attendance disclosures for Harshana at ALCY .
- SPAC governance context: ALCY’s audit committee selected CBIZ CPAs P.C. as auditor for FY2025; ratification submitted to shareholders (committee membership not disclosed) . At the Sept 4, 2025 annual meeting, shareholders approved the extension and auditor ratification; quorum was 93.83% of shares represented .
- Control and alignment context: Initial shareholders (sponsor) beneficially owned ~75% of ordinary shares, with the right to elect all directors prior to the initial business combination; public holders cannot appoint directors pre-combination .
Fixed Compensation
- Director compensation at ALCY: Not disclosed for Harshana (not a director). In a related director appointment (Jinalkumar Bipin Shah), the filing stated he “will not be compensated by the Company for his services as a director,” indicating minimal or no cash retainer for certain ALCY directors; however, this does not apply to Harshana’s officer role .
Performance Compensation
- Not disclosed for Harshana at ALCY (no RSU/PSU/option grants, performance metrics, vesting schedules, or clawback terms reported in available filings) .
Other Directorships & Interlocks
| Company | Public/Private | Role | Committee Positions |
|---|---|---|---|
| GRIP (DIFC) Limited | Private/regulatory (DIFC) | Independent Director | Not disclosed |
- No public company board memberships for Harshana are disclosed in ALCY’s SEC filings .
Expertise & Qualifications
- MBA (with Merit), University of Leicester, UK (2015). Deep experience in corporate banking, lending portfolio management, advisory, and capital markets across UAE and Sri Lanka; current Managing Director of Aartha Capital and Independent Director at GRIP DIFC .
Equity Ownership
| Holder | Class A Shares Beneficially Owned | % of Class A | Class B Shares Beneficially Owned | % of Class B | Notes |
|---|---|---|---|---|---|
| Harshana Sidath Jayaweera | — | — | — | — | No reported beneficial ownership; sponsor controls 75% |
RED FLAGS
- Sponsor control: Initial shareholders (sponsor) beneficially own ~75% of ordinary shares and elect all directors pre-deal; this concentration may limit board independence and investor influence before business combination .
- SPAC incentives/conflicts: Directors/officers’ interests include reimbursement of expenses and potential loans; sponsor/private warrants and founder shares become worthless if the deal fails, creating strong incentives to consummate a transaction that may not align with long-term shareholder value .
- Delisting risk: If ALCY cannot complete a business combination within Nasdaq’s SPAC timeline (36 months from IPO effectiveness), securities face suspension/delisting, potentially impairing liquidity and attractiveness as a merger partner .
Governance Assessment
- Committee assignments and engagement: Not applicable to Harshana at ALCY (officer, not director). ALCY’s filings emphasize extension mechanics, auditor ratification, and sponsor contributions; detailed committee rosters and director attendance are not disclosed, limiting governance transparency .
- Independence and ownership alignment: Harshana has no reported ALCY share ownership; while common for SPAC officers pre-merger, it reduces “skin in the game.” Sponsor’s 75% control and pre-merger director election rights constrain board independence, a material investor confidence consideration .
- Compensation/pay-for-performance: No officer compensation detail disclosed for Harshana; one director appointment explicitly stated no compensation, suggesting a lean pre-merger governance cost structure but preventing any evaluation of pay-for-performance alignment for officers/directors .
- Overall signal: Governance is consistent with SPAC-stage structures—sponsor-controlled, limited disclosure of director/officer pay and committee rosters, and strong incentives to extend and close a transaction. Investors should monitor future proxy/merger filings for formalized board committees, director independence confirmations, and compensation/equity alignment for officers to reassess governance quality post-combination .